4. Such additional borrowing, if entered into by the county, shall constitute a deduction from the gross debt of such county and shall not be considered in determining its net debt for debt incurring purposes.
N.J. Stat. Ann. § 18A:64A-22.4
Deduction from gross debt
L.1971,c.12,s.4; amended 1997, c.360, s.10.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.